Sunday, July 29, 2012

S&P 500 - Triple Screen 'Technical Analysis' - Week: 23 July to 27 July, 2012 - Three Inside up Month ?!

S&P 500: Long Term View (or) Month Chart (each candle is 1 month's price move)  (or) EOM Chart: 
S&P 500 - End of  Month Chart (EOM) - 27 July, 2012

           Above is the Month Chart - EOM - analyzing Data from mid 2009 onward.         

S&P 500: Medium Term View (or) Week Chart (each candle is 1 week's price move) (or) EOW Chart:  
S&P 500 - End of  Week Chart (EOW) - 27 July, 2012.

            Above is the Week Chart - EOW -  analyzing Data from Q1 2012 onward.                

S&P 500: Short Term View (or) Day Chart (each candle is 1 day's price move)  (or) EOD Chart:  
S&P 500 - End of  Day Chart (EOD) -  27 July, 2012.

           Above is the Day Chart - EOD -  analyzing Data from Q3 2012 onward.                

Learning from the Past Week:  (click here for the post)
The Bullish 'Three Inside Up' pattern seen on the EOM (1) - looks like a certainty this month - after the Bears almost killed it early last week.
Bears kept the index below the 5 EMA on the EOD, to fall around the MVWAP 34 on the EOD (5) and EOW (3) - from where the Bulls bounced back to get a green week.
RSI readings on the EOW (4) climbed but did not move into the oversold zone - good for bears.
Bears lost the thread mid week, to hand the bulls their best week in recent times.

Looking forward into the next Week:
RSI reading on the EOW (4) - need to crack the 70 mark for the Bulls to take it forward.
Bears need to break their nemesis of many weeks the MVWAP 34.
STS strength (2) indicates Bull Power.
Negative divergence on the EOD (6) - gives the Bears hope.
Bulls holding their turf for the beginning of next week - indicates strength going into next month - as the 'three inside up' (1) gives them a fillip.